He continued by saying that the airline would keep increasing charges until it gets rid of hold bags, adding that Ryanair had reduced the number of passengers checking in hold luggage from 80 per cent to 19 per cent.

Mr O'Leary said the move was saving the airline "a fortune in money" and, according to the Express and Star, added: "We will never get rid of (hold) bags but I would be disappointed if we don't get our figure for (hold) bags down from around 20% to 10%."

Asked if Ryanair would consider charging for hand luggage, Mr O'Leary said: "At some point in the future I think it's likely that airlines will do it but I can't get my head round how you would do it. I think it's unlikely that we will do it," reports Sky News.

Mr O'Leary said the move would save the airline around £70 million a year.

However, when asked if he was considering reducing the amount of air conditioning on his flights, Mr O'Leary said: "No. Even I would not do that."

The news of baggage charge increases comes the same week that the airline reported a 21 per cent year-on-year fall in first quarter profits this year. The Irish carrier admitted that the heatwave in Britain meant fewer high-revenue late bookings in recent weeks, reports the Guardian.